PETRONAS, Mitsui O.S.K Lines (MOL) and MISC Berhad have agreed to invest in the development and monetisation of Liquefied Carbon Dioxide (LCO2) carriers for Carbon Capture and Storage (CCS) projects in Malaysia.
he agreement was signed by MOL Executive Officer, Yasuchika Noma, PETRONAS CCS Ventures CEO, Emry Hisham bin Yusoff, and MISC Vice President GAS Assets & Solutions, Hazrin Hasan. MOL Executive Vice President/COO Toshiaki Tanaka, PETRONAS Executive Vice President & CEO Upstream, Datuk Adif Zulkifli and MISC President & Group CEO Captain Rajalingam Subramaniam witnessed the signing of the agreement.
LCO2 carriers are integral to the CCS value chain to connect customers to carbon capture sites and storage locations. By combining our individual strengths, we will be able to facilitate the development and subsequently materialise the transportation of liquefied CO2 in a safe and sustainable manner.
… said Datuk Adif Zulkifli, PETRONAS Head of Carbon Management and Chief Executive Officer of PETRONAS CCS Ventures
Admittedly, the shipping industry shows sees a growing demand for CO2 carriers. As these carriers are specially designed to safely transport large quantities of liquefied CO2 over long distances, they play a vital role in enabling the implementation of CCS technology and reducing greenhouse gas emissions.
For instance, just this month, Korean Register signed an MoU with K Shipbuilding, Sunbo Industries and Dongsung Finetec to jointly develop a 12K CBM liquefied CO2 (LCO2) carrier design. Additionally, Northern Lights awarded a shipbuilding contract to Dalian Shipbuilding Offshore (DSOC) for the construction of Northern Lights’ third CO2 ship.
As a future-focused shipowner, MISC is well-equipped to deliver the technical expertise required for LCO2 shipping, an essential link in the carbon capture and storage value chain. Again, our call to the maritime and other hard-to-abate industries is to collaborate
… added MISC President/Group Chief Executive Officer, Captain Rajalingam Subramaniam